Bernie Ecclestone keen on F1 budget cap

Formula 1 Supremo Bernie Ecclestone is still keen on introducing a budget cap into the sport, believing many of the teams on the grid are currently spending way more than is necessary. After a similar idea was rejected in 2009 in favor of the Resource Restriction Agreement, Bernie is now keen on seeing the idea implemented in F1.

"Let’s put it this way: there are still too many people in Formula 1 running around with rose-tinted glasses," said Bernie Ecclestone in an interview on the Official Formula 1 website. "They obviously like to see the world as they want it to be - wonderful, the sun is shining, isn’t life delightful - and not how it is. The downside of these glasses is that they blind you to reality."

Although such a ruling would most likely hurt these larger teams of the sport, Marussia (formerly Virgin Racing) are backing the idea, with the team originally entering the sport in 2010 under the belief that budget cap rules were to be implemented in the sport. The teams CEO, Graeme Lowdon, believes a budget cap is the way ahead in Formula 1.

"The attraction for us as a team coming into F1, was that if the rules had not changed and the resources you can employ are limited, then there should be some reward for ingenuity and being clever," he said in an interview with AutoSport. “But if this is the international championship of spending, then most teams are not equipped to excel in that field, and it is not clever – nor very relevant to the business world our sponsors live in. So anything that promotes cost control is a good thing."

Regardless of the fact that Marussia are one of the most cash strapped teams in the sport, team principal John Booth is also backing the budget cap. However, with Marussia’s progress up the F1 pecking order made all the more difficult due to the increasing costs in the sport, it’s understandable Marussia are backing such a move.

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